Home November 1, 2017

November 1, 2017

Volume 17 Issue 44

U.S. Base Oil Price Report

Calumet announced a price increase for all its paraffinic base oils on the heels of similar initiatives by other producers put into effect during the previous four weeks.Calumet communicated that the company would be increasing all of its paraffinic base oils, with the exception of bright stock, by 10 cents per gallon as of Nov. 1.The recent price hikes,...

EMEA Base Oil Price Report

It was a docile week for base oil markets in Europe, the Middle East and Africa, with a large number of intra-company shipments by oil majors filling supply gaps at mainstream locations.Prices have been flat in recent weeks but will probably face upward pressure as crude oil costs rise due to a developing balance between crude supply and demand...

SSY Base Oil Shipping Report

Markets in both the United States and in Asia have been subjected to increased demand which, in turn, has caused freights to strengthen. Europe, however, has been very slow, and freights are softer.U.S. GulfRates into the Far East have increased by at least 10 percent to 15 percent over the past week and are expected to continue climbing as...

U.S. Finished Lube Prices Rise

ExxonMobil, Chevron, Chemlube, Cam2 International, Warren Oil, Pinnacle Oil and Smittys Supply notified U.S. customers of upcoming price increases for finished lubricants that go into effect from mid-November through early December. Factors cited in some notices include continued increases in prices for raw materials such as base oil and additives.ExxonMobil is raising prices as much as 6 percent on...

New Report Examines EU Lube Demand

The Union of the European Lubricant Industry last week presented its first of what will become annual reports on lubricant demand in the European Union. Officials said it will fill an informational void in Europe and become a valuable resource for the industry in that region.Market data are fundamental to a better understanding of industry trends, market dynamics and...

Clariant, Huntsman to Abandon Merger

Specialty chemicals companies Clariant and Huntsman Corp. mutually agreed to abandon plans to merge due to a lack of support from the formers largest shareholder, White Tale Holdings, the companies announced Friday. Clariant will not pay the $210 million breakage fee or the $60 million extraordinary general meeting non-approval fee per the termination agreement.Despite a joint statement declaring the...

Agrinol Rejects Claims it Sold Defective Oil

Ukrainian lube maker Agrinol refuted government allegations made last week that the company supplied the Ukrainian army with poor quality oils.The companys headquarters in Berdyansk was raided by security and anti-corruption units after anonymous calls from Ukrainian Defense Ministry insiders claiming that oil used in the tanks of the countrys armed forces are defective, causing machinery to stall.Photo courtesy...

Q3 Earnings Round-up

Profits were up for S-Oil and for Milacrons Fluid Technologies segment, while Afton Chemical reported lower operating profit, BPs lubricants business recorded lower profits, Quaker Chemical posted decreased net income, and Fuchs third quarter profit after tax was unchanged, all for the quarter ending Sept. 30, compared to a year earlier.S-OilSeoul-headquartered S-Oil posted third-quarter operating income of 126.3 billion...

Briefly Noted

Sea-Land Chemical announced Joseph Clayton will retire as president Dec. 31 after 34 years with the company, the last 16 as president. Clayton will remain on the board of directors at Sea-Land, which in August appointed Jennifer Altstadt chief operating officer, overseeing all operations for the Westlake, Ohio-based chemical distributor and its subsidiaries in Canada and Europe. H&R USA...
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